The third time this month.
$GNS In the hour starting at midnight today, it climbed from 0.324 to 0.462. The following hour, it briefly hit 0.575. Trading volume over the two hours was about 1.67 million U, compared with just tens of thousands of U per hour the previous day. It has now returned to around 0.408, giving back about two-thirds of its gains.
The previous two times followed almost the exact same pattern:
▪️ It hit an intraday high of 0.858 on October 13, then closed at 0.377 on October 30
▪️ It hit a high of 0.579 on October 20, then closed at 0.396 five days later
▪️ It has carried a Binance monitoring tag since September 4. Buybacks over the past 30 days totaled about $29,000, down by more than 30% from the previous 30 days
My take: There have been no new announcements from the project team in the past two days. This kind of spike looks more like a large order pushing around a thin order book; the fundamentals haven't changed.
#GNS #Monitoring tag
$GNS In the hour starting at midnight today, it climbed from 0.324 to 0.462. The following hour, it briefly hit 0.575. Trading volume over the two hours was about 1.67 million U, compared with just tens of thousands of U per hour the previous day. It has now returned to around 0.408, giving back about two-thirds of its gains.
The previous two times followed almost the exact same pattern:
▪️ It hit an intraday high of 0.858 on October 13, then closed at 0.377 on October 30
▪️ It hit a high of 0.579 on October 20, then closed at 0.396 five days later
▪️ It has carried a Binance monitoring tag since September 4. Buybacks over the past 30 days totaled about $29,000, down by more than 30% from the previous 30 days
My take: There have been no new announcements from the project team in the past two days. This kind of spike looks more like a large order pushing around a thin order book; the fundamentals haven't changed.
#GNS #Monitoring tag